Nifty ends above 8350, Sensex up 88 pts; Vedanta gains 5%

Sensex was down 0.04 % and the 50-share Nifty was lower 0.02 %. Both the indexes were down 1.8 % each on the week, heading for their steepest weekly decline in five. India’s stock markets were little changed on Friday as Vedanta and Cairn India rose on hopes their planned merger may get delayed amid concerns by minority shareholders, while a muted start to the earnings season weighed on sentiment. TCS fell 2.4 % after gaining as much as 1.5 % earlier in the day as the company’s 3.5 % QoQ revenue growth in U.S. dollar terms lagged analysts’ estimates.

CNX NIFTY:-

Trend:- CONSOLIDATE  

Resistance:- 8500,8550.

Support:- 8250, 8200.

Strategy:- BUY ON DIPS.

 

BANK NIFTY:-

Trend:- CONSOLIDATE

Resistance:- 18800,18950.

Support:- 18300, 18150.

Strategy:- BUY ON DIPS.

 

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